The Federal Reserve Gets Behind Marijuana

As new Fed Chairman Jerome Powell was taking his seat at the head of America’s central bank amid a market meltdown earlier this year, a big decision in favor of the marijuana industry got buried in all the noise.

Turns out the Fed greenlighted a new marijuana business.

The Federal Reserve approved a master account for Fourth Corner Credit Union, a new Colorado-based financial institution that will cater specifically to cannabis-related companies.

It’s been a long road for Fourth Corner. In total, the firm had to lobby the Fed for some 40 months before finally getting approval for a master account, the tie-in

...read more at https://dailyreckoning.com/the-federal-reserve-gets-behind-marijuana/

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